Stewart goes on to segue to a segment in which he follows the life of "United Jonco International" in order to explain the many sketchy dealings that led to the crisis, including asleep-at-the-switch ratings agencies, transparency issues at the Fed, bogus corporate bonuses, overvalued toxic assets, rampant accounting fraud and a catch-all term for a host of other established Wall Street practices that I'll simply call "dickery."

The Smith piece is worth noting as it is a classic example of "clever-dickery", combining establishment thinking with know-it-all superiority, a condescending attitude and a basic lack of fundamental research, all with a complete failure to put the story in its broader political context.